Establishing depreciation basis for primary residency converted to rental

[Ian Lord]

Hello, I successfully leased my old home out when I moved and want to get a head start on tax planning. I purchased the home for about $148k, and Zillow says it is now worth about $160k as of the date the tenants moved in. The local tax assessor says the land is worth about $62k. I'm a bit unclear on how to calculate the basis in this case since I didn't buy the house originally as a rental property. Thanks for any help.